Pound vs. Dollar - Short Term Swing Trading Idea - 26 May 2022
GBPUSD in the past 12 days been in a strong uptrend after the big collapse. In the next couple of days, the cable needs to make a healthy 40% correction and find support over 1.2400 regions. Follow the price action in the next couple of hours and place stop-loss order above new swing highs.
What is the supported thesis technically for the expected scenario on GBPUSD?
- Price-action will be a strong signal in the next couple of hours
- By Elliot waves - it is a strong 5-wave impulse and needs a correction
- The MACD indicator in the next few days will start collapsing
If you have any questions related to this trading idea I will be happy to provide you with answers.
What is the supported thesis technically for the expected scenario on GBPUSD?
- Price-action will be a strong signal in the next couple of hours
- By Elliot waves - it is a strong 5-wave impulse and needs a correction
- The MACD indicator in the next few days will start collapsing
If you have any questions related to this trading idea I will be happy to provide you with answers.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.